recently referred to only as a possible war Russia, according to a last minute development reported soon cryptocurrency can change its place in the industry.
According to information reported by Russian news sources, Russia may soon recognize cryptocurrencies as money.
Russia to Recognize Cryptocurrencies
Breaking Live also cited by KOMMERSANT Looking at the news, it seems that this is a new cryptocurrency regulation.
According to the agreement between the Central Bank of Russia and the Russian government, the circulation of cryptocurrencies in Russia will now be regulated. This regulation requires the official acceptance and recognition of cryptocurrencies.
In the relevant source, it is emphasized that the draft law will be made public before February 18 and that clear decisions are expected to be taken on the circulation of digital currency in Russia.
Cryptocurrencies were referred to as “digital financial assets” and “property” due to previous decisions taken in Russia. Calling them money can completely change the legal situation and accelerate the said cryptocurrency revolution.
In order to ensure this circulation, the banking system is expected to step in. The legal currency status of cryptocurrencies will enable banks in Russia to support cryptocurrencies and make payments entirely on them.
In addition, crimes involving cryptocurrencies will now be more clearly prosecuted and crypto investors will be technically protected. The news will have a positive impact on the mainstream acceptance of cryptocurrencies.